Late payment of pension with actuarial increaseN.I.
178.—(1) This regulation applies if a member becomes entitled to immediate payment of pension under regulation 176 after reaching the age of 65.
(2) So much of the amount of the pension to which the member would otherwise be entitled under that regulation (before any commutation under regulation 185) as is attributable—
(a)to the member's pensionable service before that age, or
(b)to any contributions paid under regulations 165, 167 or 168 before that age,
is increased.
(3) The amount of the increase must be calculated in accordance with guidance and tables provided by the Scheme actuary to the Department for the purposes of this regulation.
(4) In preparing that guidance and those tables the Scheme actuary must use such factors as the Scheme actuary considers appropriate, having regard, in particular, to the period after reaching the age of 65 before the member becomes entitled to immediate payment of the pension and the life expectancy of the member.
[F1(5) In the case of a 2008 Section Optant, this regulation is subject to regulation 260Q.]
Textual Amendments
F1Reg. 178(5) added (with effect in accordance with reg. 1(2) of the amending Rule) by The Health and Personal Social Services (Superannuation Scheme, Compensation for Premature Retirement and Additional Voluntary Contributions), and Health and Social Care (Pension Scheme) (Amendment) Regulations (Northern Ireland) 2010 (S.R. 2010/22), regs. 1(2), 70